PHILADELPHIA, April 2, 2018 /PRNewswire/ -- Aberdeen
Israel Fund, Inc. (NYSE American: ISL) (the "Fund") announced
that shareholders of the Fund voted to approve an Agreement and
Plan of Reorganization (the "Plan") between the Fund and Aberdeen
Chile Fund, Inc. (the "Acquiring Fund") at its special meeting of
shareholders (the "Special Meeting") held today, April 2, 2018.
The purpose of the Special Meeting was to seek shareholder
approval of the Plan in connection with the consolidation of up to
eight closed-end funds, including the Fund, into a single
closed-end fund (the "Combined Fund") with a multi-cap emerging
markets equity income investment strategy (the
"Reorganizations").
With regard to the Reorganization of the Fund, it is currently
expected that the closing date will be prior to the end of
April 2018.
The percentage of shareholders' votes cast for and against the
Special Meeting proposal and number of shares voted at the Special
Meeting are as follows:
|
Proposal
|
Percentage of
Votes Cast For
|
Number of Votes
Cast For
|
Percentage of
Votes Cast Against
|
Number of Votes
Cast Against
|
|
To approve an
Agreement and Plan of Reorganization
|
84.87%
|
2,070,831
|
14.11%
|
344,241
|
The Special Meeting proposal received the requisite shareholder
vote at the Special Meeting.
Important Information
This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking and can be identified by the use of words such as
"may," "will," "expect," "anticipate," "estimate," "believe,"
"continue" or other similar words. Such forward-looking statements
are based on the Fund's current plans and expectations, and are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Additional information concerning such risks and
uncertainties are contained in the Fund's filings with the U.S.
Securities and Exchange Commission.
The information in this press release is for informational
purposes only and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities or the solicitation of any vote or approval in
any jurisdiction pursuant to or in connection with the proposed
transaction or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law. No offer of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
For more information about the consolidation and potential
benefits, please review the Fund's proxy statement/prospectus
available at aberdeenisl.com.
International investing entails special risk considerations,
including currency fluctuations, lower liquidity, economic and
political risks, and difference in accounting methods.
Closed-end funds are traded on the secondary market through one
of the stock exchanges. The Acquiring Fund, Combined Fund and
Fund's investment return and principal value will fluctuate so that
an investor's shares may be worth more or less than the original
cost. Shares of closed-end funds may trade above (a premium) or
below (a discount) the net asset value (NAV) of the fund's
portfolio. There is no assurance that the Acquiring Fund, Combined
Fund or Fund will achieve its investment objective.
If you wish to receive this information electronically, please
contact: InvestorRelations@aberdeenstandard.com
aberdeenisl.com
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SOURCE Aberdeen Israel Fund, Inc.